The prohibition of determining the contract price in foreign currency or based on foreign currency is imposed for many contracts (namely, chattel and real estate sales and leasing, financial leasing, labour, service and construction agreements) that are concluded between the Turkish residents, with 13/9/2018 dated and 85 numbered “the Decree on the Amendment of 32 numbered Decree regarding the Protection of Turkish Currency” (“Presidential Decree”). Under this new regulation, the necessary of amendment of the contract price converted into Turkish currency is needed for the contracts in the scope of the prohibition. At this point, a stamp tax problem occurs for the amended contracts.

According to the Presidential Decree numbered 287 which was published in the Official Gazette dated 31/10/2018 and numbered 30581, a resolution is taken regarding the discounts to be implemented in VAT (KDV), Special Consumption Tax (ÖTV) and deed fees between the dates of 31/10/2018 - 31/12/2018.

The obligatory Sanitation, Property and Inheritance Taxes shall be declared annually and can be paid by the tax responsible in two equal installments in the months of May and November.

SANITATION TAX

Sanitation tax is collected from the workplaces which uses solid waste collection and sewage system services every year as two installments (May and November). Second installment must be paid until end of November. Debt must be paid through directly applying to the relevant municipality or though the relevant municipality’s online system.

According to the 4th article of General Statement of Tax Procedure Law with item number 483, which was published in the Official Gazette dated 30.09.2017, information pertaining to daily Z reports that are generated by old and new generation cash registers (portable Payment Recording Devices with EFT-POS features are excluded) were required to be declared to Revenue Administration with the effective date 01.10.2018.